Dollar bounces back, available for Rs160.05

Fluctuation was witnessed in exchange rate on Wednesday as the US gained 40 paisas and ended the day at Rs160.05 in inter-bank trading.

In early trading, the dollar continued getting weaker against the rupee as the greenback lost 25 paisas against the Pakistani currency.

These gains by the rupee meant the dollar was traded at Rs159.40 against the previous level of Rs159.65. However, the greenback bounced back and jumped to the level of Rs159.85, meaning an overall gain of Rs1.05 during the session.

Earlier on Tuesday, the dollar’s value was down by 26 paisas. At point one, it had lost 41 paisas against the rupee and was available for Rs159.50.

It was a continuation of the trend witnessed on Monday when the rupee gained 26 paisas against the dollar which ended the day at Rs159.91.

Monday had experienced a volatile start as the dollar at one point was available for Rs157.50 against the previous level of Rs160.17. But this Rs2.67 gain could not be sustained as the rupee settled for 26 paisas at the end.

The last week too had ended on a positive note for the rupee as the dollar lost Rs1.44 against the Pakistani currency in the inter-bank rate.